Greenstone Mine

Overview

Greenstone Gold Mines is advancing on plans to design, construct and operate an open-pit gold mine, processing plant and ancillary facilities, collectively known as the Greenstone Project (the “Project”).

The property is located approximately 275 kilometers northeast of the city of Thunder Bay, Ontario and approximately 4 kilometers south of the town of Geraldton, Ontario, at the intersection of Provincial Highway 584 and Trans-Canada Highway 11.

The Project encompasses the former Hardrock, MacLeod-Cockshutt and Mosher underground mines which operated from the late 1930s until about 1970 and together produced more than two million ounces of gold. Site rehabilitation work was undertaken during the 1990s.

Greenstone Gold Mines proposes to mine the Hardrock deposit as an open pit over a Life of Mine (LOM) of approximately 15 years. Project infrastructure will include a process plant operating 365 days per year and a mill with throughput averaging 27,000 tonnes per day. The overall Project schedule will consist of the following phases:

• Construction: Years -3 to -1, with ore stockpiling commencing after the first year of construction
• Operation: Years 1 to 15, with Year 1 representing a transition from construction to operation
• Closure: Years 16 to 20 for Active Closure and Years 21 to 36 for Post-Closure.